The Pardu

The Pardu
Watchful eyes and ears feed the brain, thus nourishing the brain cells.
Showing posts with label Agence France-Presse. Show all posts
Showing posts with label Agence France-Presse. Show all posts

Wednesday, December 11, 2013

Mary Berra Appointed General Motors CEO; A Befitting Illustration Of Changing Times

Mary Barra, General Motors, CEO

Yesterday, General Motors announced a historic executive appointment that spans well beyond General Motors.  For the first time in auto industry history one of the big three producers appointed a woman as Chief Executive Officer. 
General Motors literally "broke the glass ceiling." 

Huffington Post published a short video related to the appointment of Ms. Barra.

The decision to promote Mary Barra from within and to promote a long-term employee (since age 18) also stacks-up as firsts."  While not an item that will lend to validation, I wonder if the Obama Administration (and progressive ideology) set the 'wheels' (pun intended) rolling towards a more gender inclusive high-level corporate decision.  It is a fact progressive minds saved our auto industry against GOP and conservative indifference during a time of high need.

We have re-blogged an Agence France-Presse, AFP,   (via RePostUS) article below. We think it important to review what may have contributed to a historic corporate decision. I find it impossible to believe GM would appoint Ms. Berra to the CEO leadership role had the 2008 and 2012 elections gone Republican.

Let's face it, were it not for the Obama Administration's commitment to jobs, maintaining US industry and the middle class, the US auto industry could have gone the way of US steel companies and electronics companies. And, US auto executives have rewarded the nation, their stockholders and the administration with market success, and their financial commitment to the nation has been fulfilled.

The Bailout (in Brief)
In January 2009, the Federal government used $23.4 billion of the TARP funds to create the Automotive Industry Finance Program. Its first loans provided operating cash for GM and Chrysler. These funds made auto loans available for car buyers : 
$13.4 billion for General Motors. 
$6 billion for GMAC. 
$4 billion for ChryslerFord Credit used funds from the Term Asset-Backed Securities Loan Facility (TALF), a government program for auto, student and other consumer loans. (Source: AP, Timeline)

And, the fruits of the Obama Administration's commitment to America and our auto industry ripened very quickly. As we see, read and hear, the nation is harvesting those fruits via jobs, national pride, and corporate success that leads to higher GDP.

Not only have US auto producers moved their industry standing from the depths of bailout loans and the prospect of overseas purchasers, the industry has turned itself around and is more than simply flourishing. Edmund's 2012 - 2013 sales forecast preceded the declaration of GM as the world's 2013 auto producer (based on international sales).

Edmund's forecasts 

During the Bush economic collapse the crumbling economy caught up with the US auto industry.  After years of ignoring the strides in Japanese, Germany and Korean auto production, the US auto industry started to make critical modifications in their business model, manufacturing 
processes and related (and equally critical) changes in the way the giants managed their finances. 

As US auto manufacturers gained ground on foreign producers and actually accomplished critical improvements in their vehicles (autos, trucks and Suvs), the nation via a State governor, State Attorney General and a sympathetic SCOTUS handed George W. Bush the 2000 Election.  What followed will be archived in US history as surely as the Revolutionary War, the Civil War and the Great Depression. The Bush Years will be known for nothing beyond financial mismanagement, political malfeasance and governing incompetence coupled with GOP trickle-down economic practices. Ultimately, he will be known for plunging the nation into the depths of a second Great Recession. 

The economic crash was tragic, but even more tragic was the level and scope of the GOP indifference to the health of the nation. US economic health is as strong as its auto industry and its financial sector. It is important to keep in mind, despite Bush Administration denial the US Recession started in December 2007. Jumping ahead, it is equally important to know the Bush Administration admitted the December 2007 start of the recession. The Administration issued the admission, after Barack Obama defeated John McCain and "you know who" in 2008. One year after the recession started around December 17, 2008 the Bush team admitted, their error in analysis. "....Their error in analysis," pretty well captured their official statement to cover the potential lie until after the election.  How very GOP was that

The party that lied about the recession and objected vehemently to measures to recover the ailing/dying US economy watched as the following took place, while holding on to the Faux conservative fiscal paradigms.

How about a quick St. Louis Federal Reserve look at how GOP and Bush policy gutted the US auto industry?

In 2012 Hedges & Company published a cogent and relevant piece regarding Obama Administration efforts to revitalize the nation's auto industry. Linked.... 

Ever heard of cash for clunkers.
Monthly light vehicle sales (SAAR) through Sept 2012

The program was widely criticize and often laughed at, but it seems to have contributed to the auto industry turn-around as surely as the industry bailouts. 

We posted this preliminary information to support our point that an industry leader may have found value in incorporation of policies and methodology resulting from the reality bailout assistance was provided by the progressive commitment of the Obama Administration.

Read AFP on Mary Berra after the break below